Loan Comparison: 3.64% vs 6.5%
629 Arnold, Colorado Springs, CO 80904 · 3bd/2ba · $829,999
List Price
$829,999
Assumable Rate
3.64%
Remaining Balance
$446,953
Equity Gap
$380,081
Loan Type
VAAdjust Your Scenario
$41,500
$41,500$380,081
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.64% (VA)
Blended Rate: 5.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,984/moAssumable @ 3.64% + gap loan
$4,646/moAssumed loan: $2,042/mo
Gap financing: $2,603/mo
$338less per month with the assumable
Your Savings on This Property
629 Arnold, Colorado Springs · 3.64% VA vs 6.5% conventional
$338
per month
$4,060
per year
$121,804
over 30 years
$118,839
interest saved
How gap financing works: The equity gap ($380,081) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,500, 5% of purchase price) and a second mortgage for the rest ($338,581 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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